You are here
Your IPERS pension benefit is subject to federal income tax and, for Iowa residents, state income tax. As part of the application process, you need to complete Form W-4P, which will be included with your benefit application.
You have various withholding options. Before completing the Form W-4P, you should:
- Consult your tax advisor.
- Review the instructions that accompany the IRS Form W-4P.
Keep in mind that you can update your withholding after benefits begin at any time by completing a new IRS Form W-4P. You may access your previous years' forms online through My Account.
Form 1099-R is used to report the distribution of retirement benefits such as pensions, annuities or other retirement plans. You should receive a copy of Form 1099-R, or some variation, if you received a distribution of $10 or more from IPERS.